Answer:
IRR 6% for Jabob
His friend will need 12 years saving cash to obtain their collegue funds.
Explanation:
We will solve for the rate being the annuity of 3 payment of 800
and the present value 2,138.41
C 800
time 3
PV 2,138.41
rate ?
To solve we can use excel, a financial calculator or trial and error
For excel we will do the following:
write the list of cash through the loan life:
-2,138.41
+800
+800
+800
then we write in the empy cell
=IRR(
select the values and press enter
This will give the IRR which is 6%
For the second assignment:
we need to solve for time:
C 3,800
time n
rate 0.06
PV $31,897
We work out the formula:
Now we solve the right side and apply logarithmic properties
-n = -11.77128325
n = 11.77
It will take 12 years to obtain their target amount
Answer:
I prepared the attached excel spreadsheet because there is not enough room here. The first payment is made on December 2019.
Answer:
Elaborator is the correct answer.
Explanation:
In this example, Roger takes Javier's initial idea, which includes the suggestion of buying new necessary software for the company. Roger fits the description of an elaborator, who builds examples (Roger's own experience with the software and how it'd be the best option) based on initial ideas (Javier's suggestion).
Beau gets a $15,000 loan from a credit union to buy an automobile. Debt receives the assignment from the lender of the authority to accept loan payments. Beau can be sued by the assignee if he refuses to pay the loan.
A payment is the voluntarily made exchange of money, its equivalent, or other valuables by one party (such as an individual or business) for a loan another's goods, services, or to satisfy a legal obligation. Payer refers to the party sending the money, whereas payee denotes the recipient of the payment.
In principle, the payee is free to choose the payment method he or she will take; nevertheless, most payments regulations often compel the payer to accept the nation's legal cash up to a specified maximum. Except loan otherwise otherwise agreed by the parties, payments are typically made in the payee's native currency.
Learn more about payments here
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Answer: The correct answer is b.$3,050.
Explanation: Clever Computers has a five-day workweek and pays $3,050 each week. The payment will only occur at the end of the workweek when the staff have earned the wages. However, the month ended on Thursday, meaning that the staff have only worked for four-day workweek. They have therefore earned $2,440 (4/5*$3,050) at the end of the month but that payment is not due because the 5-day workweek has not been completed. The complete journals the company would raise would be Debit Wages (overhead) $2,440, Debit Wages receivable $610 and Cr Wages payable $3,050.
When it is next month after the five-day workweek has been completed, the company would Dr Wages Payable $3,050 and Credit Cash $3,050 to make the payment.
